Is There A Tax Break For Paying Child Support

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Is Child Support Tax Deductible? - The Balance

    https://www.thebalance.com/is-child-support-tax-deductible-3193029
    When you pay child support, you effectively give that "shoe money" to your ex rather than to the shoe store, so it's not tax deductible. It doesn't matter who actually receives the money—it still goes toward paying for the housing, clothing, and other personal support needs of your child.

How Will Child Support Affect Your Taxes?

    https://www.liveabout.com/how-will-child-support-affect-your-taxes-1102688
    Although the payment and receipt of child support does not affect your taxes there is one important tax consequence related to child support payments: The Child Tax Exemption In order to claim someone as an exemption, the IRS says that you must provide more than half of that person’s total support …

Tax Deductions for Taking Care of Elderly Parents Credit.com

    https://www.credit.com/blog/2019/11/tax-deductions-for-taking-care-of-elderly-parents-136398/
    Nov 20, 2019 · There are many nuances within the tax code that may fluctuate, including how various deductions interact with each other and what you are allowed to deduct based on how you pay for it. The IRS audits a small percentage of tax returns, but you don’t want yours to be one—especially if you weren’t careful during the preparation.

How Child Support Payments Affect Your Taxes

    https://www.verywellfamily.com/common-child-support-tax-questions-2998148
    Oct 25, 2019 · The flip side is that for child support payers, these child support payments are not deductible, which means the payer owes tax on the income used to fund child support payments, just like any earned income. Thus, if you pay child support for your children, you cannot deduct the child support for the purpose of adjusting your taxable income.

Child Support and Taxes: Non-Custodial Parent FAQs - FindLaw

    https://family.findlaw.com/child-support/child-support-and-taxes-non-custodial-parent-faqs.html
    Although there is a relationship between child support and taxes, the IRS doesn't consider child support payments as taxable income. That means taxes for non-custodial parents who pay child support can't include deductions for the child support payments and, on the flipside, child support payments do not count as taxable income to the payee ...



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